Happy Thursday everyone!

Saudi real estate developer Arabian Dyar has paused its planned SAR 16 billion Tadawul listing due to cooling investor demand, adding to a wave of caution that has quick-commerce startup Ninja reconsidering its own proposed $1 billion market debut. Simultaneously, Abu Dhabi sovereign wealth fund Mubadala is preparing a €3 billion bid to acquire Restaurant Brands Europe—the operator of Burger King and Popeyes across Spain and Portugal—from private equity firm Cinven. Meanwhile, an upscale marketing campaign for Aviv Melisron’s 51 Park residential towers in Herzliya starring Hollywood actress Gwyneth Paltrow has generated widespread criticism and backlash online.

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Arabian Dyar Pauses Planned SAR 16 Billion Public Listing

What Is It About?

Saudi real estate firm Arabian Dyar has put its initial public offering on the Tadawul exchange on hold. The company was aiming for a SAR 16 billion valuation but chose to delay its plans due to quieter investor demand and volatile trading environments. Simultaneously, delivery startup Ninja is reconsidering public interest before moving ahead with its own proposed $1 billion listing.

Why It Matters?

The delay points to a growing wave of caution spreading through the Gulf corporate landscape. Following recent geopolitical friction, institutional buyers are scaling back their risk profiles and pricing expectations. When a developer of this scale steps away from the market, it sets a wait-and-see tone that often prompts other upcoming issuers to adjust their timelines.

What’s Next?

Firms looking to go public will likely watch the pricing of smaller IT or consumer listings before testing the market again. Financial institutions expect a quiet pipeline until regional security and equity benchmarks stabilize later this winter.

Mubadala Prepares Major Bid for European Burger King Operator

What Is It About?

Mubadala is assembling financial advisers to launch a €3 billion takeover offer for Restaurant Brands Europe, which oversees more than 1,400 fast-food locations across Spain and Portugal. The franchise holder, currently owned by private equity house Cinven, operates regional branches of Burger King, Popeyes, and Tim Hortons. US investment groups Apollo and Meritage are also evaluating the asset.

Why It Matters?

An acquisition would significantly expand Mubadala’s international retail and consumer food division. The sovereign investor already backs Latin American fast-food operator Zamp, showing a clear corporate focus on stable, cash-generating franchise networks. Buying the Iberian peninsula's leading quick-service group provides reliable revenue that acts as a hedge against more volatile technology investments.

What’s Next?

Non-binding corporate bids are due in the coming weeks, with Morgan Stanley handling the sale process for Cinven. If Mubadala succeeds, expect the fund to back a geographical expansion of the Popeyes brand into nearby Mediterranean countries like Italy.

Luxury Housing Campaign Starring Gwyneth Paltrow Sparks Online Debate

What Is It About?

Actress Gwyneth Paltrow is headlining a high-profile marketing push for 51 Park, a premium residential project in Herzliya, north of Tel Aviv. Developed by Aviv Melisron, the project consists of two 51-story towers overlooking a local urban park. The promotional video, filmed in New York by agency WhyWorry, has faced intense criticism on social media networks regarding the celebrity's promotion of high-end real estate in the country.

Why It Matters?

The situation shows the high reputational risks global figures face when participating in corporate campaigns tied to sensitive regions. While developers use foreign celebrity endorsements to maintain real estate demand from international buyers, the resulting public backlash can overshadow the commercial goals of the project.

What’s Next?

Aviv Melisron will monitor if the widespread media coverage translates into actual apartment sales among high-net-worth foreign buyers. The controversy may cause other international agencies to reconsider using prominent Hollywood talent for regional property promotions.

👨‍💻From Smashi Business’ Desk

• Exclusive: Bezos’ $38 Billion “Project Prometheus” AI Play, Which Has a Quiet Gulf Angle

• The Gulf box office is telling a bigger story than just the strong debut of Michael.

• Saudi Arabia’s first Hollywood-scale blockbuster Desert Warrior has opened modestly at the US box office.

• Despite a market cap of just $15.7 million — well below Nasdaq’s $35 million threshold — Swvl Holdings Corp is not on the brink of delisting.

• UK universities under fire after reports of £440k spent spying on pro-Palestine student activity⁠

🔍In other news…

• Reuters Exclusive: US states preparing lawsuit to block Paramount's acquisition of Warner Bros, sources say

• Bahrain’s Gulf Air Sees Travel Demand Recovering in the Summer

• US eyes Iranian assets for Gulf allies' reconstruction, source says

• Abu Dhabi’s Etihad to surpass pre-Iran war capacity without price cuts

🦄 World of Startups

• Dubai gifting marketplace Udora secures $10M

• Saudi fashion platform Aya secures $7m to scale real time production

• Jordan-based Tamatem has acquired Istanbul-founded Playable Factory, strengthening its push into performance marketing and user acquisition.

• Egypt’s Lucky Raises USD 23M Series B. Its Consumer Credit Model is Expanding Into North Africa

• “We Got Funded!” Maison Safqa Raises US$620,000 in Pre-Seed Funding to Expand Luxury Flash-Sale Platform Across GCC

• Via Separations, US-based deeptech startup, raised $36M in funding from Aramco Ventures (Saudi), and other global investors.

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